Boston luxury team reports condos in small associations drawing multiple offers while full-service buildings sit, with the gap expected to widen through 2026
BOSTON, MA, UNITED STATES, August 31, 2026 /EINPresswire.com/ — The Goodrich Team, a luxury real estate group at Compass in Boston, has released its mid-year analysis of the Greater Boston condominium market, and its conclusion challenges the way most buyers and sellers read the city. Boston is no longer one market moving at one speed. It has divided into two, and according to the team, the dividing line is not price or neighborhood. It is the size of the building.
Year-to-date in 2026, The Goodrich Team reports an average of 31 days to offer across its Greater Boston listing and buy-side transactions, with an average list-to-sale price ratio of 98.49 percent, indicating that the majority of properties are closing below asking. Underneath those averages, the team says, sit two very different markets.
“Property type is the biggest challenge in Boston right now,” said Ethan Goodrich, founder of The Goodrich Team at Compass. “Larger associations of ten or more units are struggling. Buyers are nervous about big capital projects, surprise assessments after they purchase, and high monthly fees. As of August 1, lenders have removed limited review for these larger associations, so they are now under further scrutiny from underwriters as well. Meanwhile, condos in smaller, more intimate associations have lower fees, fewer unnecessary expenses, and are simply more liquid.”
Goodrich says the geography of the split follows the housing stock. Historic neighborhoods such as Back Bay and Beacon Hill, where brownstone buildings with a handful of units dominate, are largely insulated. Midtown, Seaport, Fenway, and parts of the South End carry far more inventory in large managed buildings and face a harder road. Charlestown is a standout performer on the strength of extremely low inventory. There are exceptions at the top of the market, and the team points to buildings such as 22 Liberty and 50 Liberty in the Seaport, which remain low-turnover and in high demand despite premium pricing.
“Carrying costs are the story behind the story,” Goodrich said. “Taxes, association fees, and parking keep climbing on top of historically high prices. A buyer with a five-year plan looks at a concierge building with high fees and high inventory and loses confidence. Back Bay and Beacon Hill are meant to be enjoyed through brownstone living, and buyers are voting that way.”
For sellers in the slower segment, Goodrich advises discipline at the initial list price. “If you start too high in a luxury high-rise, you may blow your shot at the best outcome, because that unit probably has not appreciated in four years,” he said. “Study the competition inside your own building. Be realistic that you may sell for less than you paid, the way you would with a car or a boat.”
For buyers, the team reports growing leverage in large buildings, usually realized through successive price reductions rather than dramatic single discounts, though Goodrich cautions that offers roughly ten percent below asking rarely receive a response unless the seller has yet to make a first cut. In the competitive small-association segment, he recommends tight dates, strong deposits, and quick inspection windows now that Massachusetts rules bar inspection waivers as a condition of acceptance.
Looking ahead, the team expects the two markets to diverge further. “Condos in smaller associations will appreciate, and larger associations will languish and depreciate,” Goodrich said. “Until interest rates come down significantly, into the four to five percent range, this problem will continue.”
About The Goodrich Team
The Goodrich Team is a luxury real estate group at Compass specializing in the representation of buyers, sellers, and developers throughout Boston and Greater Boston. Established in 2009, the team ranked as the number one team at Compass in Boston by 2024 sales volume and is among the highest-rated teams on Zillow in the Greater Boston area. The team’s nickname, “the Ducks,” is inspired by the Make Way for Ducklings statues in the Boston Public Garden, reflecting its mission of helping clients find a place to call home. Learn more at https://www.goodrichboston.com.
Contact
The Goodrich Team at Compass
126 Newbury Street, Boston, MA 02116
(617) 398-4444
goodrich@compass.com
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